2020 Hyundai Palisade ・ Photo by Hyundai
The coronavirus has changed the game for every automaker on the planet. As 2020 began, hopes were high for a very good year in the United States. Coming off five years in which total car sales topped 17 million each year, experts predicted that 2020 would come close to that level yet again. But that reckoned without COVID-19, which, starting in mid-March, has ravaged car sales in America.
Now every brand has marshaled its forces and assembled new plans, ever more determined to turn the sales slide around. As America begins to open back up for business over the coming weeks and months, you can expect sales to improve incrementally. But if you’re in the market now, you might discover today’s incentives to lease and buy are about as compelling as they will ever get. Listed over the next pages are the best new-vehicle lease deals from the top-selling brands in America. Virtually all lease deals are regionally based, so the details on some lease offers we quote might differ somewhat in your locale. But this is a good time to lease a vehicle, and here are the best new-vehicle leasing deals.
Like many auto brands in the current situation, Ford is concentrating much of its efforts on a deferred payment sales strategy. It is offering customers incentives worth three months of car payments plus the ability to defer the next three months of car payments, so customers can go a full half-year without making a car payment.
But Ford is also offering special lease deals. For instance, customers with good credit can lease the Ford EcoSport small SUV for $201 per month for a period of 39 months. $2,171 is due at lease signing. For those seeking to lease an Explorer mid-size SUV, customers can get a monthly payment of $269 for a lease period of 36 months with $4,389 due at signing. Many of Ford’s pickup truck incentives are for purchasers, not lessees, but customers can lease a Ford F-150 STX for $349 per month for 36 months with $4,429 due upfront.
Photo by Ford
Unlike many other high-volume brands, Toyota didn’t establish a new campaign in response to the coronavirus pandemic. It isn’t offering deferred payments on vehicle purchases, either. But Toyota is continuing with its regionally offered specials, including a wide variety of lease deals.
Toyota’s higher-than-average resale value enables very compelling monthly lease payments. As examples, customers can lease a RAV4 compact SUV — one of the most popular vehicles in the nation — for $299 per month for 36 months with $1,999 due at signing. Or they can get the same RAV4 LE version for $314 per month for 36 months with no initial payment. Another popular Toyota model is the Camry mid-size sedan, which is available for $249 per month for 36 months with $1,999 due at signing. The Corolla compact sedan is offered for $199 per month for 36 months with $1,999 as an initial payment.
Photo by Toyota
On the purchase side, Chevy is offering both a lengthy payment deferral period (up to 120 days) and zero-percent financing for up to 84 months, which are very enticing. But for those who want to lease, its Sign & Drive program features no first month’s payment, no signing payment, and no security deposit. Maximum mileage without an added per-mile charge is 32,500.
For instance, customers can lease a Chevrolet Trax small SUV for $233 per month for a period of 39 months making 38 payments. For customers seeking more interior room, the Chevrolet Equinox compact SUV is available for $297 per month for 39 months with a total of 38 payments. Pickup truck lessees might find what they want in a full-size Silverado at $363 per month for 39 months with 38 payments. Chevrolet doesn’t offer many sedans these days, but the mid-size Malibu can be leased for $302 per month for 39 months. Again, the total number of payments is 38.
Photo by Chevrolet
Honda is offering a 90-day deferred payment program and “loyalty purchase assistance” cash as special incentives on new-vehicle purchases. But, like arch-rival Toyota, Honda is also offering a wide variety of lease deals typically available on a regional basis. Because Hondas enjoy high resale value, the brand’s lease deals are often very tempting.
For example, customers can lease a Honda Civic LX with nothing due at lease signing. Terms are $240 per month for 35 months with no initial payment and no security deposit. Those interested in a subcompact SUV can lease the versatile 2020 HR-V LX with front-wheel drive for $189 per month for 36 months. $2,599 is the total due at signing. The Honda Pilot mid-size SUV is a more sizable alternative. A 2020 Pilot EX with front-drive can be leased for $299 per month for 36 months with $2,799 total due at signing.
Photo by Honda
For those who want to purchase their new vehicles, Nissan is offering both three months of deferred payments and cash equivalents for two more that can mean no payments until the sixth month of ownership. It, like its competitors, is also offering a wide swath of special lease deals, often on a regional basis. To make certain a described deal is available in your area, check nissanusa.com for details.
One eye-popping offer is the new 2020 Sentra SV compact sedan for $149 per month for 36 months with $3,449 due at signing or a 2020 Sentra SR for $181 per month for 36 months with $2,249 due at signing. For those interested in more performance and luxury, an extremely well-equipped 2020 Maxima Platinum Reserve flagship can be leased for $383 per month with $3,749 due at signing. Those seeking a pure-electric vehicle should find the offers on the Nissan LEAF of note. Customers can lease a 2020 Nissan LEAF for $229 per month for 36 months with $3,449 due at signing, while a 2019 Leaf is even less expensive at $234 per month for 36 months and an initial payment of $2,929.
Photo by Nissan
Jeep, in conjunction with other Fiat-Chrysler brands, has launched its “Drive Forward” initiative that includes zero-percent financing for 84 months and no payments for 90 days on many 2019 and 2020 models. While that is designed to help customers who intend to purchase their vehicles, Jeep is also extending special lease offers on a regional basis.
Customers can lease a 2020 Jeep Wrangler Sport 4x4 for $275 per month for 36 months with $3,945 due at signing. Mileage is limited to 10,000 per year. Those seeking a 2020 Grand Cherokee can lease a Laredo with a V6 engine, eight-speed automatic transmission, and alloy wheels for $349 per month for 36 months. The all-new Jeep Gladiator mid-size truck has captured a lot of attention, and it can be leased for $251 per month for 36 months with an initial payment of $3,995.
Photo by Fiat Chrysler Automobiles
Some impressive region-based lease deals accompany Subaru’s zero-percent financing initiative instituted to combat the effects of the coronavirus business slowdown. Zero-percent (APR) financing for 63 months is available on 2020 Ascent, Forester, Outback, Legacy, and Impreza models.
The lease offers are strong as well. For instance, customers can lease a 2020 Legacy mid-size sedan with all-wheel-drive for $219 per month for 36 months. $2,899 is due at lease signing. Those interest in a three-row SUV can lease the 2020 Ascent for $305 per month for 36 months with an initial payment of $2,985. Customers can get a $249 per month lease of a 2020 Outback crossover for a 36-month term with $2,449 due at signing. A 2020 Forester compact SUV is available for $265 per month for 36 months after an initial payment of $2,465. The leases include a $300 disposition fee at the lease’s conclusion.
Photo by Subaru
While many truck buyers like to purchase their vehicles, an increasing number seek out high-value leases. In response to the coronavirus pandemic, Ram is offering a number of compelling lease deals on a regional basis.
One notable offer is on the 2019 RAM 1500 Classic, a continuation of the previous-generation Ram 1500 pickup. The lease payment is $330 per month for 42 months with $4,199 due at signing. For customers seeking the current-generation Ram 1500, there is a $389 per month offer for 36 months on the Big Horn Crew Cab trim. The very heavily equipped and luxurious Ram 1500 Limited trim crew cab is being offered at $662 per month for a period of 36 months. The FCA “Drive Forward” promotion also applies to many Ram trucks.
Photo by Ram Media
Like many of its competitors, Hyundai is responding to the coronavirus epidemic and its economic consequences with both impressive regional lease deals and its overarching Assurance Job Loss Protection. That program will make up to six months of payments for new Hyundai owners who lose their jobs due to health issues this year and have purchased or leased their vehicles between March 14 and April 30 through Hyundai Capital.
Money-saving lease deals are offered across the Hyundai lineup, but we think the most attractive is on the all-new 2020 Hyundai Palisade mid-size SUV. It can be leased for $339 per month for 36 months with $3,499 due at lease signing. The well-regarded Hyundai Elantra SE compact sedan can be leased for $139 per month with $2,499 due at lease signing.
Photo by Hyundai